Proposal Demo

Development opportunity

72 Bed Best-in-Class Care Home
Leatherhead, Surrey

01 - Overview

A new care home development of circa 72 beds led by specialist care developer Frontier Estates.

The anticipated care home GIA of 3,747.2m² equating to circa 52m2 per resident/bed.

The scheme will be designed and suitable for the private pay market.

Location

Located in the affluent town of Leatherhead, Surrey
Situated 4 miles north of Dorking, 4 miles southwest of Epsom, 3.7 miles south of Oxshott
Close to desirable amenities
Strong connections to public and private transport routes

Demographics

High proportion of over 85’s in the catchment
Significant undersupply of market standard beds forecast to rise significantly by 2026
High average house prices over £833,645 within the catchment
Strong asking fees (Carterwood Analytics)

Developer & Deal Structure

The Developer Frontier Estates is seeking STP offers for the freehold or leasehold interest
The Developer Frontier Estates to run the planning process
Anticipated planning submission date Q2 2024 and determination Q1 2025

02 - Location

Land on the east side of Kingston Road, Leatherhead KT22 7QT

The site is located in Leatherhead, a town in the Mole Valley District of Surrey, South East England.

Leatherhead sits circa 17 miles south of London, 3.5 miles south east of Oxshott, 2.4 miles south west of Ashtead and 13 miles north of Dorking.

The site is very prominent, located in the north of the town and sits on the corner of Kingston Road (B2430) a busy thoroughfare connecting the centre to the north of Leatherhead and Aperdele Road leading to a small residential area.

The area benefits from a number of amenities nearby. Adjacent the site is Leatherhead Common Nature Reserve and the Kingston Road Recreational Ground. There are also a number of shops close by, post office and Leatherhead Hockey Club.

The immediate area around the site benefits from excellent transport links to both bus and rail. A bus stop is located directly outside and opposite the site taking passengers to Kingston, Cobham and Leatherhead.

Leatherhead Railway station is located within 1.1 miles from the site with direct routes to Guildford, London Waterloo, London Victoria and Dorking. This is easily accessible via bus.

03 - Existing Site

Site Overview

The boundary of the site is outline in yellow and is circa 1.23 acres in size.

The site has been historically operating as the Trinity Primary School.

Adjacent the site is the Kingston Recreational ground as well as residential dwellings.

The site fronts the Kingston Road (B2430), a busy, main road thoroughfare from the south (centre of Leatherhead) to the North connecting to the M25.

The existing access is off Aperdele Road leading to a residential area of Leatherhead.

Planning

Local Authority: Mole Valley

Planning Applications: No planning applications have been submitted to date although the scheme has received a positive pre app response.

The site is not located in a greenbelt, conservation area nor does the site comprise TPOs.

Further surveys and reports are available and can be shared on request.

All interested parties are urged to do their own diligence, but parties are requested not to contact the Local Authority directly.

04 - Proposed Scheme

The scheme has been be designed by a well renowned and respected care architect in the marketplace Harris Irwin.

The developer and architect will work reasonably with an operator to help deliver a scheme suitable to their operational needs. At this stage, the plans are in their infancy and subject to change through the planning process.

Presently the care home scheme consists of 72 beds over part two part two and a half storeys with services in the roof.

The home will suite the best in class market place and is designed with efficiency of build in mind.

Schedule of Accommodation

GF – 35 beds

FF – 37 beds

Part SF – Services in the roof space

Bedroom sizes at present vary between 15m2 and 17.5m2.

Presently the care home scheme is anticipated to have a GIA of circa 3,747m² equating to circa 52m2 per resident/bed.

Draft floor plans are available on request.

The home will be suitably designed to suit the private pay market with 100% wetrooms throughout and all the expected facilities and amenity areas including, salon, cinema, dinning spaces, private dining, café, lounge etc.

05 - Demographics

The catchment analysed has been determined as 3-mile radius using Carterwood Analytics. The area comprises 65,682 people and benefits from a high proportion of over 85’s in the population of 3.70% (1.1% > UK Average).

Ensuite Provision

Initially, there is an estimated undersupply of circa 249 en-suite beds (2026 projected). There are no beds in planning. When homes under 40 beds are removed, the adjusted result is an estimated undersupply of circa 319 en-suite beds. When the wider catchment of 5-mile radius is considered, there is an under provision of circa 477 en-suite beds illustrating the immediate need (see Table 1).

Wetroom Provision

When considering only market standard beds there is an adjusted undersupply of circa 319 wetroom beds.

Wealth and House Price Data

The catchment’s average house price is £833,645 and is well-rounded with Social Grade AB and C1 being the most significant populations (see diagram 1). The site is also positioned well for staffing availability.

Summary

Due to the significant undersupply of market standard en-suite and wetroom bed provision, lack of competing modern purpose-built facilities, the high proportion of over 85s it is likely that there will be significant demand for the proposed scheme targeting the private pay market. This is further supported by the general wealth profile within the catchment.

Socio-economic Classification

AB – Higher & intermediate occupations: 40.1%

C1 – Supervisory, clerical & junior occupations: 33.3%

C2 – Skilled manual occupations: 13.9%

DE – Semi-/unskilled & unemployed: 12.7%

Supply & Demand

Basis of Assessment	All Elderly Beds	Ensuite Beds	Wetroom Beds
Including all planned beds	133	249	319
Including granted planned beds only	133	249	319
Excluding all planned beds	319	319	319
Adjusted bed no. (Mayfly) - excluded homes under 40 beds incl. planned beds	319	319	319

06 - The Developer

Frontier Estates are a renowned specialist care developer with over 25 years experience specialising in the development and delivery of care homes to regional and national operators and investors across the country.
Frontier Estates are anticipating submitting the planning application Q2 2024.
They will be running the planning process to deliver the proposed scheme on a STP basis.
Anticipated determination of the application is likely to be circa Q1 2025.

07 - Process

Freehold and Leasehold offers are sought and to be made out to Mayfly Group for the proposed 72 bed care home scheme.

Offers are to be made on a Subject to Planning basis for the proposed development assuming a consented scheme.

Our client may enter into an agreement for lease, subject to delivering a completed development to an agreed specification. Rental offers are invited on the basis of an institutional lease for a term of 35 years, with annual RPI linked uplifts. It should be assumed that ‘loose’ furniture, fixtures and equipment will be the responsibility of the operator.

Interested parties should supply details of their operational experience and financial covenant.

VAT: no VAT

08 - Additional Information

We are an experienced and well respected commercial development agent, solely specialising in the elderly and senior living care markets. We act for a variety of national, regional and independent operators and developer across the sector. Our clients benefit from our understanding of the full development process, funding and operational markets. Please contact us for more information on our services.

Viewings

Access to the site maybe be granted with prior arrangement through Mayfly Group only.

Money Laundering Checks

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended) require us to conduct due diligence checks upon all purchasers. When an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residential address; if the purchaser is a company or other legal entity, then any person owning more than 25% must provide the same.